Themes

Special thanks to Austin Bohlig for his work on this note.  We believe we are seeing a paradigm shift in the manufacturing sector, where robots and humans are beginning to work together side-by-side. These robots that are working alongside people (not…

We are publishing our Tesla model with forecasts out to 2023. We’re believers that Tesla will play a central role in two upcoming paradigm shifts: 1) EV and autonomous transportation, and 2) renewable energy – driven by Tesla’s core competencies…

Special thanks to Austin Bohlig for his work on this note.  We believe the domestic robot market, which includes robotic vacuums, mops, and lawnmowers, is one of the most promising sub-categories within the robotics space. Following iRobot’s Q2 results, we are…

Following the company’s Q2 earnings release, Google shares are down 3%, based on higher traffic acquisition costs (TAC). As a percentage of revenue, TAC increased to 11.1%, up from 8.8% a year ago. We think this is a classic example…

When Apple launched the iPhone SDK in March 2008, they correctly anticipated a gold rush for iOS developers selling apps on the new App Store. Another gold rush is about to begin with the debut of iOS 11 and ARKit.

Special thanks to David Kroger, Steve Van Sloun, and Austin Bohlig for their work on the Non-Tech AI Portfolio.

The sickness adoption hurdle. The timing of most tech adoption curves can be anticipated by a combination of cost and utility. The lower the cost, the higher the utility, the faster the adoption. We define mass adoption as 500m or…

This note was originally published on Barron’s. Over the next several decades, human labor will be augmented then replaced by robots.

If we had to sum up our investment approach in one word, it would be non-incremental. Venture capital is a power law game: the vast majority of venture returns come only from a few investments. We believe we have to…

At Apple’s Worldwide Developers Conference in June, the company announced ARKit for developers to create augmented reality-driven apps. Apple describes ARKit as a platform that, “combines device motion tracking, camera scene capture, advanced scene processing, and display conveniences to simplify…

We’ve updated our 5-year cost of ownership study comparing a Tesla Model 3 to a Toyota Camry. The comparison gives us a look at how the Model 3 cost compares to a mass-market sedan. In 2017, our model concluded that…

Why do we think that some combination of AR wearables will eventually replace our smartphones? In short: because the customer is always right. Or, more specifically, solving customer problems is the best way to create value. I’ve been a regular…